Insolvency, Administration and Liquidation Solicitors

Insolvency

We provide lenders and other stakeholders, companies and the directors of financially troubled businesses with advice on how to avoid formal corporate insolvency proceedings, wherever possible.

Also, when this is not possible, our experienced team of insolvency experts have successfully acted for those who appoint receivers or the directors of failed businesses in seeking the best outcome for creditors. Although control of the business is lost to the receivers, often the directors assist the receivers to find a buyer for the business and to recover monies due to the business.

Sometimes directors have given personal guarantees to the bank to support the business lending and we are adept at advising them on the enforceability of such guarantees, on acting for them should they wish to purchase the business assets from the receivers and how to protect their own position.

Administration

At Morecrofts, our experienced team of insolvency experts have successfully helped many struggling businesses to enter into administration. This is a constructive process of trying to save a company. It is designed to hold a business together while plans are drawn up to rescue the business, sort out the problems and allow the company to restructure.

The making of the administration application or the filing of the notice of intention to appoint administrators gives immediate protection from all creditors including the landlord, hire purchase and lease creditors. In other words, all the company’s assets are protected to enable a plan of action to be put in place.

Liquidation

Our experienced team of insolvency experts have successfully acted for liquidators or the directors of failed businesses. We can advise you on which option is best for you and guide you through the process. Directors should always take legal advice before closing the business to ensure that their own position is protected. We often wind up companies through the court at the directors’ request where funds are insufficient to wind up a company voluntarily. We offer a fixed price for this service with no hidden costs.uat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum.